As a new generation enters the workforce, there is an even more pressing need to invest in workplace learning and development. As the baby boomer generation moves toward retirement––taking years of valuable expertise with them––millennials are quickly becoming the dominant group in the workforce. In fact, millennials are on track to make up 75 percent of employees by 2020. However, of this vast talent pool, 43 percent of millennials intend to change jobs in the next two years. As the talent market grows increasingly competitive, businesses are scrambling to encourage retention and remediate the effects of high turnover.
When companies need to fill a position, the instinct is typically to start a job search. However, it can take time and resources to fill an open role, and oftentimes your current workforce is filled with a wealth of untapped potential.
We’ve all heard about how HR needs a “seat at the table.” Given that people represent any company’s most valuable asset, that sounds reasonable, right?
Being a manager is challenging, especially when you’re first starting out. Whatever previous responsibilities someone has held, management demands a unique set of skills that come from both training and experience. Without guidance, there’s a good chance a first-time manager will flounder, so it’s up to the company—particularly HR—to build a framework that supports their success.
Whether you like it or not, our workplaces are shifting. Depending on your size and industry, you’ll see this play out in a variety of different ways. Traditional siloed and hierarchical structures are being replaced with more team-centric collaboration, less formal titles, and more influence without authority.
Developing leaders—especially new leaders—is crucial for your company’s success. Not only will the leaders attending your learning and development programs thank you, but their direct reports will too. Coaching is one of the most effective skills any leader can have in their wheelhouse, and it is the building-block upon which more advanced leadership development can be built.
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